New Enterprise Zones go live

More than twenty new Enterprise Zones and extensions announced in the Autumn Statement were launched this week as the legislation implementing the Zones’ incentives went live.

This builds on the success of the current zones which continue to help attract investment and support local growth. To date the EZ programmes has attracted nearly 24,000 jobs, over 600 businesses and £2.4bn of private sector investment.

Space to Innovate sites across New Anglia:

10 Enterprise Zone sites across Norfolk and Suffolk launched were launched on 1 April at the King’s Lynn Innovation Centre (pictured above), the first new building to open on the Enterprise zone.

With the theme “Space to Innovate” the Enterprise Zone will showcase the expertise of the region, from cutting edge excellence in food and health research, ICT and creative digital to its prosperous coastline. The sites will also be home to enterprise hubs helping entrepreneurs and young businesses develop and grow. The Enterprise Zone aims to attract 18,500 jobs in the 25 year lifetime of the zone, including 5,000 jobs by 2021.

Mark Pendlington, chairman of New Anglia LEP said: “Suffolk and Norfolk is already home to a thriving Enterprise Zone in Great Yarmouth and Lowestoft at the heart of our all-energy coastline. Today we can extend that success, to 10 new sites across the East giving businesses locally, nationally and internationally the tools to begin a new venture or move their ideas forward and help create even greater momentum, wealth and success.”Blackpool Airport and Hillhouse Enterprise Zones are off to a flying start:

Blackpool’s airport-based enterprise zone has already attracted its first new tenant. Force Technology, a company which produces hi-tech, high precision springs for the automotive industry world wide, is officially the first private company to locate on the zone.

The company was attracted to the zone due to its excellent transport links and the proximity to other businesses in the context of the Northern Powerhouse. Force Technology hope to grow their workforce to over 120 in the next 5 years.

Edwin Booth, chairman of the Lancashire Enterprise Partnership, said: “Blackpool Airport and Hillhouse EZ sites will capitalise on the recent work of the LEP and local partners in securing a £250m Growth Deal which includes a focus on the economic renewal and regeneration of Blackpool.”

40 other businesses have expressed an interest in locating their businesses on the new zone.

The full list of new Zones announced in Autumn Statement that went live on 1 April 2016:
Find out their sector focus.

• Heart of the South West – Plymouth South yard
(Business Rate Discount starting 2016. Business Rate Retention will be implemented in 2017 following submission of maps and baseline data)The full list of Zone extensions announced in Autumn Statement that went live on 1 April 2016: